SAREGAMANSE1 November 2023

Saregama India Limited has informed the Exchange about Investor Presentation

Saregama India Limited

Date: 1st November, 2023

The Manager, Listing Department, National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra – Kurla Complex, Bandra (East), Mumbai – 400 051

The General Manager, The Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

Symbol: SAREGAMA

Scrip Code: 532163

Subject: Investor Presentation

Reference: Unaudited Financial Results (Standalone and Consolidated) of the Company, for the

quarter and half year ended on 30th September, 2023

Dear Sir/ Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) as amended from time to time, please find enclosed the Investor Presentation for the Unaudited (Standalone and Consolidated) Financial Results for the quarter and half year ended on 30th September, 2023.

This information is available on the website of the Company www.saregama.com

You are requested to kindly take the abovementioned on record and oblige.

Yours Faithfully, For SAREGAMA INDIA LIMITED

Priyanka Motwani Company Secretary and Compliance Officer Encl. As above

SAREGAMA India Limited, 33, Jessore Road, Dum Dum, Kolkata - 700 028, India. Tel: +91 33 2551 2984, Fax: +91 33 2550 0817, Web: www.saregama.com CIN: L22213WB1946PLC014346 Email ID: co.sec@saregama.com

SAREGAMA INDIA LIMITED | QUARTERLY PRESENTATION | Q2 FY24

SAREGAMA STRENGTHS

India’s only entertainment company with IP offerings across media channels (music, films, web series and TV serials), delivery platforms (physical and digital) and business models (licensing and retail)

Large intellectual property portfolio of 150K+ songs, 70 films and web series, 6K+ hours of television content

Strong licensing relationships with streaming applications and platforms for music and video

Increasing IP library with a growing presence in all leading Indian languages

Investments and Capabilities in Data Analytics and Technology for content acquisition and IP protection

Strong financial position with track record of revenue growth, margin expansion and cash flow generation

Experienced and creative leadership through Management Team and Promoter Group

2

SAREGAMA KEY FINANCIAL METRICS

Revenue From Operations (INR Mn)

Adjusted EBITDA (INR Mn)

22% CAGR

7,366

50% CAGR

2,712

2,230

5,806

5,447

5,215

4,420

3,566

2,185

1,451

1,519

786

763

511

237

847

603

389

159

PBT(INR Mn)

58% CAGR

2,481

2,044

FY17

FY18

FY19

FY20

FY21

FY22

FY23

FY17

FY18

FY19

FY20

FY21

FY22

FY23

FY17

FY18

FY19

FY20

FY21

FY22

FY23

FY23 numbers are restated post impact of demerger

ACQUISITION HIGHLIGHTS

4

Business Verticals

Key Strengths

POCKET ACES PICTURES PVT LTD

India’s leading digital media entertainment company incorporated in 2013. Based out of Mumbai

1. Direct to Consumer content: Short-form video content published on own channels such as Filter Copy, Gobble, Dice, Nutshell and producing 50+ videos every week. Working with 200+ Brand Partners

2. Artiste Management: Largest on revenue and numbers, Clout manages 120+ digital influencers and actors. The goal is to use Company’s IP creation power to promote the artistes and then monetize them through brand endorsements.

3. OTT content: Create Digital web-series for licensing to Video OTT platforms (Hotstar, Netflix, Amazon Mini TV, Voot)

• 95Mn + followers across social media platforms • Revenue from Operations was Rs.1,044 Mn in FY23. Revenue has grown by 34% CAGR over the last

4 years and is expected to grow even faster in future

• Only media house with ‘Youth” positioning in the market : attractive to platforms, creative talent and brands •

Its Influencer Management business, Clout, is the biggest in India, both in terms of no of digital influencers and revenue

Pillars of IP creation, distribution and access to talent make a smooth flywheel for offering to Brands

• One of the top 3 Influencer Management companies

Content Creation is the Core

Youth Centric Brand Partnerships

Digital Platform Strategies

Influencers riding on Music

Similar Businesses

BUILDING SYNERGIES

We complement content creation for different customer segments 0 -12 Years – Saregama While Saregama focusses on Mainstream Culture, Pocket Aces thrives on Counter-Culture

12-35 Years – Pocket Aces

35+ Years – Saregama

Pocket Aces’ chemistry with the young audience creates a great pull for youth-centered Content Creators and Brands. Saregama to leverage for its New/Old Music

Access to 95Mn digital followers of Pocket Aces creates a big marketing leverage, and hence differentiator for Saregama in acquiring new music content

Gaining access to Saregama's 150k music assets would enable Pocket Aces to offer its influencers a highly lucrative opportunity to develop Branded Content business, thereby solidifying Pocket Aces' position as the industry leader in Influencer Management

Video

: While Saregama focuses on theatrical films, Pocket Aces is big on Web Series

Both rely on Digital OTT for their returns

Artiste Mgt. : While Pocket Aces is big on Influencers, Saregama’s focus is Singers

Both rely on making Artiste big through Content, and then monetizing them through Brands & Live Events

6

CONTENT IP : BOTH COMPANIES FIT EACH OTHER AS A JIGSAW PUZZLE

Creation Capability

1 min Video

3 min Songs

22 min TV Series

45 min Web Series

120 min Films

Talent Building

Monetisation Strength

Marketing Power

Music OTT

Video OTT

Brands

TV Channels

Live / Wedding Events

Corporate Relationships

2M

64M

8M

15M

97M

16M

Target Consumer

YouTube

Instagram

Facebook

0-12 Yrs

12-35 Yrs

35+ Yrs

Saregama

Pocket Aces

THE “SYNERGY” SHOULD RESULTS IN THE COMBINED REVENUES OF THE TWO COMPANIES GROWING @ 27-28% ON MEDIUM-TERM BASIS

COMPANY OVERVIEW

8

MUSIC LICENSING, MUSIC RETAIL, FILMS & SERIES, LIVE EVENTS

1,574

1,024

702

521

476

Film, Events and Series,

FY19

FY20

FY21

FY22

FY23

2,948

2,062

1,056

861

1,298

Music Retail

FY19

FY20

FY21

FY22

FY23

FY23 numbers are restated post impact of demerger

21%

18%

FY23 Revenue INR 7366 Mn

61%

* 4,410

* 3,585

* 2,839

* 2,361

1,949

FY19

FY20

FY21

FY22

FY23

* One time income of INR 84Mn in FY23, INR 97Mn in FY22, INR 155Mn in FY21 and INR 21Mn in FY20 are excluded

Music Licensing

STRATEGIC OVERVIEW

To be a Pure Play Content Company capitalising on the global content consumption boom

driven by the ever-increasing Digitisation

Monetisation of Existing IP

Through licensing to EVERY 3rd party Digital (music, video, social) and TV platform.

Carvaan transitioning from being a Product with only one-time margin to a Platform for Music lovers with recurring advertising, transaction and subscription revenue

Cementing leadership position with New film and non-film music acquisition across Hindi, Tamil, Telugu, Bhojpuri, Gujarati, Punjabi, Malayalam, Bengali and other regional languages.

Building of New IP

Producing Theatrical Films in only Regional languages and Web Series in all languages. Revenue secured through pre-licensing to digital platforms. Scale allowing lower cost of production

Building Live Music based Events IP, preferably around Saregama owned music

150k+ Songs | 70 Movies & Web Series | 6k+ hrs of TV Series | Advantage Saregama

PATH TO LEADERSHIP POSITION IN MUSIC SEGMENT

Disproportionate Share of

New Content across Hindi & Regional Languages

+

Acquisition of Small & Mid size Music Catalogues using Cash Reserves

+

Better Monetisation Capability on the back of Catalogue + New Content strength

Investments in Data Analytics & AI Marketing Muscle

+

Deeper artiste relationships through play in Artiste Management & Live Events

+

Strength of Balance Sheet Decentralised Decision Making

+

India’s Largest and Most Popular Music Catalogue

MUSIC SEGMENT REVENUE FROM CATALOGUE MUSIC CONTINUES TO GROW

Annual Growth in Music Licensing Revenue from Saregama owned Songs classified by Decade of Release

FY19

FY20

FY21

FY22

FY23

2001 – 2020

1981 – 2000

Till 1980

47%

32%

24%

24%

18%

23%

18%

27%

20%

4%

1%

5%

19%

19%

7%

All revenue from derivatives of catalogue songs are classified basis original song release date

MUSIC SEGMENT SAREGAMA IS NO LONGER A CATALOGUE COMPANY

33% of Saregama’s songs were released post 2000, and they contributed to 48% of FY23 revenue

FY23 150k+ songs generated Licensing Revenue INR 4,410 Mn * Era wise Breakup

2021-2023

8%

27%

2001-2020

1981-2000

1961-1980

Till 1960

25%

26%

25%

21%

21%

29%

16%

2.6%

Count of Songs

Revenue

Derivatives of catalogue songs are classified basis derivative song release date *Excluding one time income of INR 84 Mn

48% of Licensing Revenue now comes from 21st century songs

OUR GROWTH STRATEGY IN VIDEO SEGMENT

Pick Films and Cast primarily basis recoveries from Digital and TV licensing

+

Pick Web Series basis pre-licensing approval from a VoD platform

Volume of Films / Series to drive Cost Optimisation & Licensing Leverage

Greater emphasis on regional movies because of better ROI

Retain IP for Portfolio building & future exploitation

+

Access to Music Catalogue gives Unique Strength

OUR LICENSING PARTNERS

Streaming Partners Music

Broadcasting Partners Music + Films & Series

Video Streaming Partners Music + Films & Series

vO

uVid

v

Social Media Platforms Music + Films & Series

Brands Music

15

OPERATIONAL HIGHLIGHTS

16

MUSIC SEGMENT REVENUE PER QUARTER (INR Mn)

1547

1509

1569

1491

1378

1333

1274

1216

1175

1142

1004

919

858

696

Q1 FY21

Q2 FY21

Q3 FY21

Q4 FY21

Q1 FY22

Q2 FY22

Q3 FY22

Q4 FY22

Q1 FY23

Q2 FY23

Q3 FY23

Q4 FY23

Q1 FY24

Q2 FY24

* One time income of INR 84Mn in FY23, INR 97Mn in FY22 and INR 155Mn in FY21 are excluded

17

MUSIC LICENSING - MONETISATION

• OTT : Progressive shift seen as paid subscription replaces free consumption. 3 more players (Gaana, Resso and Hungama) have moved behind paywalls. Strong revenue growth in medium to long-term despite short term pressure (due to minimum guarantees going away)

• Brand Licenses:

Dabur Babool, Soopersoft Biscuits, Ola Electric, Google, HUL etc.

• Digital Content Licenses:

IPL Opening & Closing Ceremony (Jio Studio), The Freelancer (Web- Series: Hotstar), Guns n Gulaabs (Web-series : Netflix) etc.

• Film Sync Licenses:

Licensed 2 songs for Sharukh Khan film “Jawan”; 1 song for Sunny Deol

film “Gadar 2” etc.

YOUTUBE VIEWS (Bn) PER QUARTER

39

45

66

53

114

85

100

95

90

85

80

75

70

65

60

55

50

YOUTUBE SUBSCRIBERS (Mn)

97

91

85

80

75

70

Q1FY23

Q2FY23

Q3FY23

Q4FY23

Q1FY24

Q2FY24

Q1FY23

Q2FY23

Q3FY23

Q4FY23

Q1FY24

Q2FY24

Includes all views related Saregama IP across it’s owned channels and user generated content on YouTube and YouTube Shorts

18

GROWING FASTER THAN COMPETITION ON YOUTUBE CONSUMPTION

YoY YouTube Views Growth SIL Vs Competition

46%

5%

2%

FY22

-6%

-18%

28%

8%

-5%

-5% FY23

-8%

34%

2%

-3%

FY24

-5%

-12%

SIL YoY % Growth

C 1 YoY % Growth

C 2 YoY % Growth

C 3 YoY % Growth

C 4 YoY % Growth

• The above growth is basis year on year YT views on respective Company Channels and does not include YT Shorts and views generated from User Generated Content • FY24 views has been annualized basis actual views of Half year ended 30 September 2023 • Source for all above numbers : socialblade.com • C 1 : Competitor 1. C 2 : Competitor 2 C 3 : Competitor 3 and C 4 : Competitor 4

19

Major Film Albums Released in H1 FY24 - Building IP for tomorrow

Film

Language

No. of Songs

Production House

Star Cast

Rocky Aur Rani Kii Prem Kahaani

Zara Hatke Zara Bachke

Hindi

Hindi

Jaane Jaan

Hindi

I Love You

Hindi

RDX

Malayalam

Dasara

Kushi

Telugu

Telugu

Maaveeran

Tamil

Pichaikkaran 2

Tamil

Kousalya Supraja Rama

Kannada

14 05 02 04 05 10 05 06 06 06

Dharma Productions, Viacom18 Studios 12th Street Entertainment,

Maddock Films, Jio Studios

Alia Bhatt Ranveer Singh

Sara Ali Khan, Vicky Kaushal

Northern Lights Films, Kross Pictures

Kareena Kapoor, Vijay Varma, Jaideep Ahlawat

Jio Studios, Athena

Pavail Gulati, Rakul Preet Singh

Weekend Blockbusters

Antony Varghese,Shane Nigam,Neeraj Madhav

Sri Lakshmi Venkateswara Cinemas

Nani, Keerthy Suresh

Mythri Movie Makers

Samantha Prabhu, Vijay Deverakonda

Shanthi Talkies

Vijay Antony Film Corporation

Kourava Production House, Shashank Cinemass

Sivakarthikeyan Aditi Shankar

Vijay Antony, Kavya Thapar

Darling Krishna Brinda Acharya

Box Office Collection (Rs. Cr)

350+ 115+

Released on OTT

Released on OTT

100+ 115+

70+ 85+ 35+ 15+

Box Office Collection Source : Wikipedia

Chartbuster Songs of H1 FY24

MUSIC SEGMENT : CONTENT CREATION Film Music released in Q2 FY24 TELUGU

TAMIL

HINDI

Ranveer Singh & Alia Bhatt

Samantha & Vijay Deverakonda

Naga Shaurya & Yukti Thareja

Suriya & Disha Patani

Sivakarthikeyan

Kareena Kapoor Khan

Ravi Teja

Ruhani Sharma

MALAYALAM

Surjith

Kannada

Vijay Antony

Marathi

Bhumi Pednekar & Shehnaaz Gill

Mahima Nambiar & Shane Nigam

Malavika Sreenath & Asif Ali

Avinash

Siddharth Jadhav

MUSIC SEGMENT : CONTENT CREATION Non-Film Music released in Q2 FY24

BHOJPURI

GUJARATI

HINDI

Gunjan Singh

Neelkamal Singh

Kajal Maheriya

Omkar Singh

Saaj Bhatt

Vijay Chauhan, Shilpi Raj

Shivam Singh & Shivani Singh

Rakesh Barot

Gen z Grooves

Madhur Sharma

DEVOTIONAL

Dawai Ke Dihi

Shilpi Raj & Neelkamal Singh

Mahesh Vanzara

Utkarsh Sharma

Om Namah Shivaya

23

MUSIC RETAIL

Retail:

• Unit Sales grew 21% Y-o-Y

• High contribution of Carvaan Mobile resulting in unit

realisation coming down. Margin % maintained

CARVAAN SALES (units '000s)

168

156

149

139

189

141

103

112

98

200

180

160

140

120

100

80

60

40

20

0

45

Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24

Future Outlook

▪ Reliance on Natural Pull from the market

▪ Tight cost controls to continue

24

Films and Web Series

Upcoming releases

FILMS & SERIES

Released Asif Ali and Sunny Wayne starrer “Kasargold” during the quarter.

Digital Release on Netflix in October’23.

Kasargold Asif Ali

Anveshippin Tovino Thomas

Malaikottai Valiban Mohanlal

Bazooka Mammootty

TV Segment

• “Ilakkiya” continued its No. 1 TV serial position in afternoon

slot across all Tamil Channels.

• All serials Anbe Vaa, Ilakkiya and Iniya were the Slot Leaders

in their respective time slots.

• Saregama TV Shows YouTube channel garnered 1.3 Bn views in Q2 FY24 i.e. more than 3x growth over Q2 FY23 of 393 Mn views

Future Outlook

• Unlocking

value of the existing IP through language new platform remakes, licensing and syndication

25

FINANCIAL HIGHLIGHTS

CONSOLIDATED

26

QUARTERLY FINANCIAL SUMMARY

Particulars (INR Mn)

Revenue from Operations

Music

Films and Television serials

Events

Revenue from Operations

Adjusted EBIDTA (EBIDTA excluding Content Charge)

Q2 FY24

Q1 FY24

Q-o-Q Growth

Q2 FY23

Y-o-Y Growth

1,569 151 4

1,723

720

1,491 122 20

1,633

623

5% 24% (80)%

6%

16%

1,509 153 188

1,850

704

4% (1)% (98)%

(7)%

2%

Content Charge include the following charges related to the new content during the year: 1) 4) Content charge does not include any royalty paid post recoupment of the Minimum Guarantee amount.

Amount amortised in case of Royalty based deals 2) Amount amortised against the one-time fee paid in case of Outright purchase-based deals 3) Marketing of new content

Revenue from Operations (INR Mn)

189

153

58 213

2

573

20 122

4 206

1,509

1,547

1,461

1,491

1,569

Q2-FY23

Q3-FY23

Q4-FY23

Q1-FY24

Q2-FY24

700

200

Adj. EBITDA (INR Mn) & Adj. EBITDA Margin

38%

41%

42%

30%

38%

704

740

618

623

720

Q2-FY23

Q3-FY23

Q4-FY23

Q1-FY24

Q2-FY24

43%

38%

33%

28%

23%

18%

13%

Music

Films & TV serials

Events

Adj. EBIDTA

Adj. EBIDTA Margin

All previous quarter numbers are restated post impact of demerger

27

ADJUSTED EBIDTA TO PAT

Particulars (INR Mn)

Q2 FY24

Q1 FY24

Q-o-Q Growth

Q2 FY23*

Y-o-Y Growth

FY 23*

Revenue from Operations (A)

Total Expenses (B)

Adjusted EBIDTA (C= A-B)

Adjusted EBIDTA Margin (%)

Content Charging Cost (D)

Depreciation (E)

Finance Cost (F)

Other Income (G)

PBT (C-D-E-F+G)

Tax

PAT

PAT Margin (%)

Diluted EPS (Face Value Re.1)

1,723

1,003

720

42%

185

9

2

132

656

176

480

28%

2.50

1,633

1,010

623

38%

183

10

14

175

591

158

433

27%

2.26

6%

(1)%

16%

1%

(10)%

(86)%

(25)%

11%

11%

11%

1,850

1,146

704

38%

173

6

13

113

625

159

466

25%

2.42

(7)%

(12)%

2%

7%

50%

(85)%

17%

5%

11%

3%

7,366

4,654

2,712

37%

679

31

57

536

2,481

630

1,851

25%

9.63

* Numbers are restated post impact of demerger

28

BALANCE SHEET

Equity and Liabilities (INR Mn)

As at 30th September 2023

As at 31st March 2023*

Shareholder's fund

(a) Equity share capital

(b) Other equity

Net worth

(a) Non-controlling interest

Non-current liabilities

(a) Financial liabilities (i) Lease liabilities

(b) Employee benefit obligations (c) Deferred tax liabilities (net)

Current liabilities

(a) Financial liabilities

(i) Lease liabilities

(ii) Trade payables

(iii) Other financial liabilities

(b) Other current liabilities (c) Provisions (d) Employee benefit obligations

(e) Current tax liabilities

193

14,155 14,348

31

193

13,228 13,421

34

- 45

478

4

776

505

862 851 25

123

1 42

464

6

702

565

876 913 8

9

Total

18,048

17,041

* FY23 numbers are restated post impact of demerger

Assets (INR Mn)

Non-current assets

As at 30th September 2023

As at 31st March 2023*

(a) Property, plant and equipment

2,213

2,207

(b) Right-of-use assets

(c) Investment properties

(d) Intangible assets

(e) Intangible assets under development

(f) Financial assets

(i) Investments

(ii) Other financial assets (g) Other non-current assets Current assets

(a) Inventories

(b) Financial assets

(i) Investments (ii) Trade receivables

(iii) Cash and cash equivalents

(iv) Bank balances other than (iii) above

(v) Loans

(vi) Other financial assets

(c) Current tax assets (net) (d) Other current assets Total

4

21

1,452

58

-

525

445

7

21

1,143

40

-

530

573

2,398

1,643

3,561 1,177 1,828

2,548

227

175

351

1,065 18,048

2,388 1,480 167

4,916

262

219

301

1,144 17,041

29

CASH FLOW STATEMENT - Amended

H1 FY24

FY 23*

Particulars (INR Mn)

Pre-Tax Profit

Change in other operating activities ( including non-cash Items)

Change in Working capital

Taxes Paid

Net cash generated from Operating Activities (A)

Investment in Content @

Redemption/ (Investment) in Fixed Deposits with maturity > 3m

Redemption/(Investment) in Mutual Fund

Net cash generated from other Investing activities

Net cash generated/ (used) in Investing Activities (B)

Net cash (used in)/generated from Treasury Shares

Proceeds from Issue of Share Capital #

Repayment of Lease Liability

Dividend paid

Interest paid

Net cash (used in)/generated from Financing Activities (C)

Net (decrease)/increase in Cash and Cash Equivalent (A+B+C)

Cash and Cash Equivalents at the beginning of the period

Effect of Translation of foreign currency cash and cash equivalents

Less: Transferred pursuant to the scheme of arrangement

1,247

(249)

531

(253)

(1,058)

2,362

(1,082)

190

(22)

-

(3)

-

(2)

1,276

2,481

(432)

116

(669)

(1,481)

(3,709)

3,120

27

1,496

412

(2,043)

(161)

-

(6)

(578)

(7)

(27)

1,661

167

-

-

(752)

(1,299)

1,527

16

(77)

167

30

Cash and Cash Equivalents at end of the period # @ Represents amount invested in acquiring Music and Film IPs * FY23 numbers are restated post impact of demerger # Exclude Investment in Bank FD with maturity more than 3 months and Investment in Mutual Funds INR 6,613Mn ( FY23 INR 7,802Mn)

1,828

FINANCIAL CHARTS (CONSOLIDATED)

Revenue from Operations (Turnover) (INR Mn)

Music Licensing Revenue (INR Mn)

Content Charge (INR Mn)

PAT (INR Mn)

6 6 3 7

,

7 4 4 5

,

5 1 2 5

,

6 0 8 5

,

0 2 4 4

,

*

9 3 8 2

,

*

1 6 3 2

,

9 4 9 1

,

*

5 8 5 3

,

*

0 1 4 4

,

9 7 6

3 6 4

0 5 8 1

,

6 2 5 1

,

5 3 1 1

,

6 7 1

9 7 1

9 9

3 4 5

5 3 4

FY19

FY20

FY21

FY22

FY23

FY19

FY20

FY21

FY22

FY23

FY19

FY20

FY21

FY22

FY23

FY19

FY20

FY21

FY22

FY23

* One time income of INR 84Mn in FY23, INR 97Mn in FY22, INR 155Mn in FY21 and INR 21Mn (FY20) are excluded

Adjusted EBIDTA Margin (%)

Return on Equity (ROE) (%)*

Diluted EPS (INR)

% 8 3

% 7 3

% 3 3

% 3 3

% 4 2

% 6 1

% 4 1

% 5 1

Debt to Equity Ratio

Dividend per Share (INR)

.

0 3

.

0 3

.

0 2

8 2 0

.

.

6 9

.

4 8

.

5 6

% 5 1

% 3 1

.

1 3

.

5 2

.

3 0

.

2 0

3 0 0

.

- - -

FY19

FY20

FY21

FY22

FY23

FY19

FY20

FY21

FY22

FY23

FY19 FY20 FY21 FY22 FY23

FY19 FY20 FY21 FY22 FY23

FY19 FY20 FY21 FY22 FY23

• ROE = PAT / Shareholders Equity • Shareholders Equity = Equity share capital and free reserves • Since FY22 INR 7500 Mn of fresh fund raise through QIP

added to Shareholders Equity

Previous Years EPS has been restated basis face value of Re.1 per share

Since FY21, Company is debt free

All FY23 numbers are restated, as applicable, post impact of demerger

31

DISCLAIMER

Saregama India Ltd. Disclaimer:

In evaluating our business, we consider and use non-GAAP financial measures such as EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, PAT Margin, Debt to Equity Ratio, Return on Equity, to review and assess our operating performance. These non-GAAP financial measures are not defined under Ind AS and are not presented in accordance with Ind AS. They may not be comparable to similarly titled measures reported by other companies due to potential inconsistencies in the method of calculation. We have included these non-GAAP financial measures because we believe they are indicative measures of our operating performance and are used by investors and analysts to evaluate companies in the same industry. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, other measures of financial performance and liquidity reported in accordance with Ind AS. These measures should not be considered in isolation or construed as an alternative to Ind AS measures of performance or as an indicator of our operating performance, liquidity, profitability, or results of operations. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the Standalone/Consolidated Financial Statements.

No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Saregama India Ltd., which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.

This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

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